A headstand bench has a bench frame having front and rear pairs of legs connected by a pair of upper rails, and a pair of lower rails extending longitudinally between the front and rear pairs of legs, beneath the pair of upper rails. A headstand plate is mounted on the pair of upper rails adjacent the rear pair of legs, the headstand plate having a first inner edge that includes an inwardly extending recessed area that is sized and shaped for performing headstand exercises. A removable rigid plate is adapted to be removably mounted on the pair of upper rails, and includes a second inner edge that removably interlocks with the first inner edge of the headstand plate. A removable cushion is removably mounted on the removable rigid plate. The removable rigid plate may also be secured on the pair of lower rails.